When a family member dies, you or someone else close to that person must take some basic steps fairly quickly. Knowing what to do can ensure there’s no delay in what can already be a long and laborious estate settlement process.
There are several events that mark good times to review and update your estate plans, including major life changes, financial changes, or new tax laws. You should also make a habit of updating your estate plans every few years regardless. Read on to learn why it’s important to update your estate plans and when you should do it.
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) changed some of the rules about when people who inherit an IRA can withdraw the funds. As you plan your retirement, make sure you understand the new rules and adjust your estate planning accordingly.
If you plan on giving large sums of money to friends and family — either in your lifetime or after you die — you owe it to yourself and them to understand the tax implications. Here’s what you need to know about how estate and inheritance taxes work — and how to keep them as low as you can.
If there is a list of topics people don’t like to discuss, death and debt are near the top. However, like many important legal and financial issues, every responsible adult should have at least a basic understanding of how debts left behind after death can affect survivors. Who pays for such debts? Are debts passed
Explore Protect Money
You don’t want to lose it. Learn how to keep it safe.